Nikhil Kamath said dollar-backed stablecoins could undermine India’s financial sovereignty and argued that a gold-backed stablecoin may be a more suitable long-term alternative for the country.

Nikhil Kamath said dollar-backed stablecoins could deepen India’s dependence on US financial infrastructure, while a gold-backed stablecoin may better suit the country by tapping idle household gold and reducing dollar reliance.

Zerodha co-founder Nikhil Kamath warned that dollar-backed stablecoins could deepen India’s dependence on US financial infrastructure and harm long-term monetary sovereignty. He suggested a gold-backed stablecoin may be a more suitable alternative worth discussing.

Zerodha co-founder Nikhil Kamath said dollar-backed stablecoins could deepen India’s dependence on US monetary infrastructure and threaten long-term financial sovereignty. He suggested a gold-backed stablecoin as a possible alternative worth discussing.

Zerodha co-founder Nikhil Kamath said dollar-backed stablecoins could deepen India’s dependence on US monetary infrastructure and suggested a gold-backed stablecoin may be a more suitable idea for the country.

Zerodha co-founder Nikhil Kamath said dollar-backed stablecoins could deepen India’s reliance on US monetary infrastructure, while a gold-backed stablecoin may better suit the country’s financial sovereignty and domestic asset base.

Ripple is the first blockchain firm to join BIS's new Interoperability Extension Taskforce under the Payments and Market Infrastructure Committee. The move signals a breakthrough for blockchain in global financial standards, aiming to solve high costs, delays, and fragmentation in cross-border payments.